NEW YORK (AP) — GT Advanced Technologies, which announced last year that it would supply scratch-resistant sapphire materials to Apple, said Monday it is filing for Chapter 11 bankruptcy reorganization.
The Merrimack, New Hampshire, company said it is trying to obtain financing so it can continue its operations. GT Advanced Technologies said it has about $85 million in cash right now. The company’s revenue dropped 59 percent in 2013, and it has lost about $150 million combined in 2012 and 2013.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Already a print subscriber? Click here to login/register your account
